Medicare Explained

Medicare Part A

(Hospital Insurance) helps cover:

Inpatient care in hospitals
Skilled nursing facility care
Hospice care
Home health care

Medicare Part B

(Medical Insurance) helps cover:

Services from doctors and other health care providers
Outpatient care
Home health care
Durable medical equipment
Some preventive services

Medicare Part C: (Medicare Advantage Plans)

Includes all benefits and services covered under Part A and Part B
Usually includes Medicare prescription drug coverage (Part D) as part of the plan
Run by Medicare-approved private insurance companies
May include extra benefits and services for an extra cost

Medicare Part D: (Prescription Drug Coverage)

Helps cover the cost of prescription drugs
Run by Medicare-approved private insurance companies
May help lower your prescription drug costs and help protect against higher costs in the future.

Medicare Supplement insurance and Medicare Advantage plan:

When to Buy Medicare supplement insurance:

Buy a policy when you're first eligible. The best time to buy a Medigap policy is during your 6-month Medigap (Medicare supplement insurance) open enrollment period, because you can buy any Medigap policy sold in your state, even if you have health problems. This period automatically starts the month you're 65 and enrolled in Medicare Part B (Medical Insurance). After this enrollment period, you may not be able to buy a Medigap policy. If you're able to buy one, it may cost more.

What’s a Medicare Advantage Plan?

You can get your Medicare benefits through Original Medicare, or a Medicare Advantage Plan (like an HMO or PPO). If you have Original Medicare, the government pays for Medicare benefits when you get them. Medicare Advantage Plans, sometimes called “Part C” or “MA Plans,” are offered by private companies approved by Medicare. Medicare pays these companies to cover your Medicare benefits.

If you join a Medicare Advantage Plan, the plan will provide all of your Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance) coverage. This is different than a Medicare Supplement Insurance (Medigap) policy.